Mermaid Secures Subsea Contracts Valued at USD 7.4 Million

Mermaid Maritime Public Company Limited (“Mermaid”) reports that its Middle East and South East Asian business units have recently been awarded subsea contracts with a combined total estimated potential contract value of USD 7.4 million.

The first highlighted package of work, commencing in the third quarter of 2019, involves use of a Mermaid air dive system and a light work-class ROV carrying out air diving and ROV services for a national upstream oil and gas company offshore in the Middle East GCC. The duration of the contract is for approximately 9 months.

The second highlighted package of work, also commencing in the third quarter of 2019, will involve use of Mermaid offshore diving, survey, ROV and deck crew and a third party chartered-in vessel to carry out offshore installation of a 2,000-meter subsea manuli hose for oil production support together with UWILD inspection services for an international EPCIC company offshore in South East Asia. The duration of the contract is for approximately 45 days.

Mermaid’s contract win announcements as published from time to time on SGXNet are not exhaustive as Mermaid continues to be awarded other smaller contracts in the ordinary course of business which are added to its order book.